Posted by Henry E NC on January 11, 2010 at 11:07:18 from (67.142.163.35):
In Reply to: Re: Gas Prices posted by Showcrop on January 11, 2010 at 10:17:06:
I worked in that industry for a while and this is how we bought gas. (Bear in mind this was a Texaco distributor) Every morning at 7:00 the manager placed calls to refiners and other in the business of selling tankers full of gas. We bought at least three and oftimes four tankers a day seven days a week. Our terminal was at the docks in Tampa Fl. each place(Generic , Mobil, Texaco, BP and Phillips, Exxon and Standard, would then submit a 24 hr price to us and whoever was the lowest got the business. Many times more than one supplier would have the same price so we would split the buy to keep everyone happy. It is mt understanding that we could also purchase so many gallons at the price quoted but had to pick it up over a certain time fame. Any how, that is how the distributors priced their fuel. Henry
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